Vanguard Group Inc. lifted its stake in Guardant Health, Inc. (NASDAQ:GH) by 6.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,627,500 shares of the company’s stock after purchasing an additional 486,607 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Guardant Health worth $1,071,448,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Coatue Management LLC raised its holdings in Guardant Health by 80.5% in the 1st quarter. Coatue Management LLC now owns 2,018,453 shares of the company’s stock worth $308,117,000 after acquiring an additional 899,916 shares during the last quarter. Polar Capital Holdings Plc purchased a new position in Guardant Health in the 1st quarter worth approximately $106,011,000. Fred Alger Management LLC raised its holdings in Guardant Health by 27.4% in the 1st quarter. Fred Alger Management LLC now owns 2,637,489 shares of the company’s stock worth $402,613,000 after acquiring an additional 567,042 shares during the last quarter. Orbimed Advisors LLC raised its holdings in Guardant Health by 81.6% in the 1st quarter. Orbimed Advisors LLC now owns 977,400 shares of the company’s stock worth $149,200,000 after acquiring an additional 439,200 shares during the last quarter. Finally, Capital International Investors raised its holdings in Guardant Health by 19.0% in the 1st quarter. Capital International Investors now owns 1,780,354 shares of the company’s stock worth $271,771,000 after acquiring an additional 284,652 shares during the last quarter. 87.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Canaccord Genuity decreased their price objective on shares of Guardant Health from $195.00 to $180.00 and set a “buy” rating for the company in a report on Monday, August 9th. TheStreet upgraded shares of Guardant Health from a “d” rating to a “c-” rating in a research note on Monday, October 4th. Zacks Investment Research lowered shares of Guardant Health from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Guardant Health from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, June 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Guardant Health has an average rating of “Buy” and a consensus target price of $164.00.
Guardant Health (NASDAQ:GH) last posted its quarterly earnings data on Thursday, August 5th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The company had revenue of $92.10 million during the quarter, compared to analysts’ expectations of $84.63 million. Guardant Health had a negative return on equity of 37.35% and a negative net margin of 116.99%. On average, equities research analysts expect that Guardant Health, Inc. will post -3.98 earnings per share for the current fiscal year.
In related news, Director Stanley J. Meresman sold 4,934 shares of the company’s stock in a transaction on Friday, September 10th. The shares were sold at an average price of $129.78, for a total value of $640,334.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 14,802 shares of company stock valued at $1,715,453 over the last 90 days. 5.80% of the stock is currently owned by company insiders.
About Guardant Health
Guardant Health, Inc is a precision oncology company, which engages in treatment of cancer through use of proprietary blood-based tests, vast data sets, and advanced analytics. Its solutions include treatment selection, recurrence detection, and early detection. The company was founded by Helmy Eltoukhy, AmirAli H.
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